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JPMorgan upgrades Otis Worldwide to Overweight with $109 price target.
ByAinvest
Tuesday, Jul 15, 2025 6:08 am ET1min read
Otis Worldwide (OTIS) has been upgraded to Overweight from Neutral by JPMorgan, with a $109 price target. This upgrade is based on the company's strong fundamentals and growth prospects. TipRanks offers advanced data and expert insights to help investors make informed decisions.
July 2, 2025JPMorgan Chase & Co. has upgraded Otis Worldwide (NYSE:OTIS) to "Overweight" from "Neutral," setting a price target of $109 per share. This upgrade is based on the company's strong fundamentals and growth prospects. The brokerage has highlighted Otis Worldwide's robust performance and positive outlook, indicating a potential upside for investors.
Otis Worldwide, which specializes in manufacturing, installation, and servicing of elevators and escalators, reported earnings per share (EPS) of $0.92 for the quarter ending April 23, 2025, exceeding the consensus estimate of $0.91. The company's revenue for the quarter was $3.35 billion, down 2.5% year-over-year. Despite this decline, the company's revenue growth is expected to improve, driven by its diversified portfolio and strong market position.
The upgrade comes amidst a mixed analyst sentiment towards Otis Worldwide. While several analysts have raised their price targets, others have maintained or lowered their ratings. Morgan Stanley, for instance, increased its price target to $105 from $97, while Barclays raised its target to $92 from $90, maintaining an "Underweight" rating. Despite these varied opinions, the consensus price target stands at $102.86, indicating a potential upside of 1.43% from the current price of $98.68 [2].
Otis Worldwide's market capitalization is $39.17 billion, with a price-to-earnings (PE) ratio of 26.05 and a beta of 0.98. The company's stock has seen significant institutional investment, with institutional investors owning 88.03% of the shares. Recent institutional buys include positions by Transce3nd LLC, NBC Securities Inc., Aster Capital Management DIFC Ltd., Wayfinding Financial LLC, and Cheviot Value Management LLC [1].
Institutional investors and hedge funds have been actively positioning themselves in Otis Worldwide, with several recent acquisitions of new positions. These investments highlight the company's potential for growth and stability in the market.
The upgrade by JPMorgan Chase & Co. reflects the positive sentiment surrounding Otis Worldwide's fundamentals and growth prospects. The company's strong performance and positive outlook make it an attractive investment opportunity for investors looking for exposure to the elevator and escalator market.
References:
[1] https://www.marketbeat.com/instant-alerts/otis-worldwide-nyseotis-stock-price-expected-to-rise-morgan-stanley-analyst-says-2025-07-08/
[2] https://www.gurufocus.com/news/2967361/barclays-raises-price-target-for-otis-worldwide-otis-to-9200-otis-stock-news
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